Grow Credit launches innovative credit creation plans starting at $ 1 / month
LAS VEGAS – (COMMERCIAL THREAD) – Today at Money20 / 20, Grow Credit, a financial inclusion platform committed to building credit and improving credit scores, announced the launch of three innovative plans to help U.S. consumers establish and create credit by leveraging their monthly subscription payments.
Grow Credit’s client-centered approach empowers Americans to build their credit history and increase their financial literacy. The platform combines a small loan with a virtual Grow Credit Mastercard that is exclusively designed to be used to pay for over 100 popular subscriptions, including Netflix, Disney +, Spotify, and Amazon Prime. For as little as $ 1 per month, users can organize and maintain their subscription payments while they build or build credit on all three credit bureaus.
âMillions of Americans are struggling to establish and grow their credit,â said Joe Bayen, CEO and Founder of Grow Credit. âOur mission is to provide a tangible solution while increasing users’ financial literacy. We are excited to unveil these membership plans that work in conjunction with the Grow credit card and popular membership services, and we hope the platform continues to have a positive impact.
The platform’s three enhanced paid plans include:
- Create a secure membership – Starting at $ 1 / month for the first 12 months, these cards have a monthly spending limit of $ 17. Grow Credit earns $ 204 to the three major credit bureaus, and users receive a monthly credit of $ 1 that can be applied to their Grow Credit account with billing charges from over 100 qualifying businesses per subscription.
- Increase membership – This plan starts at $ 3.99 / month for the first 12 months, and the cards have a monthly spending limit of $ 50. Grow Credit brings in $ 600 to the three major credit bureaus.
- Speed ââup membership – Starting at $ 7.99 / month for the first 12 months, with a monthly spending limit of $ 150. Grow Credit brings in $ 1,800 to the three major credit bureaus.
These plans, in partnership with Blue Ridge Bank NA, allow users to pay off their Grow Credit accounts in full each month via payment from their linked bank account. The platform reports their repayments to Equifax, Experian, and TransUnion, allowing them to demonstrate a positive repayment history to create credit. Grow Credit also offers a free Build membership plan that does not include membership discounts. This card comes with a monthly spending limit of $ 17 on their Grow Credit Mastercard.
âWe are delighted to extend our partnership with Grow Credit, allowing its clients to create credit and save simultaneously,â said Brian Plum, CEO of Blue Ridge Bank. âWe are expanding Grow Credit’s mission and our common goal of empowering people with historically limited access to traditional financial services. ”
Bayen added: “We are fortunate to have such an enthusiastic group of partners, investors and supporters who make this possible.”
Founded by financial industry veterans, Grow Credit is committed to promoting financial literacy and provides weekly financial education content to its user base. Last month, the platform announced that it had raised a funding round of $ 106.3 million. Top investors include Mucker Capital and Commerce Ventures, as well as former NBA All-Star Baron Davis, DraftKings CEO Jason Robins and Matt Higgins, who is vice president of the Miami Dolphins, a recurring shark on ABC’s. Shark aquarium, co-founder and CEO of RSE Ventures and co-owner of VaynerMedia.
Residents of the United States can apply for a Grow Credit membership in minutes through the Grow Credit iOS app, Android app, or at GrowCredit.com.
About Grow Credit Inc.
Grow Credit’s innovative credit building service lowers the barrier to entry for millions of Americans who need to establish and develop credit. By combining a small loan with a virtual MasterCard, the service manages payments for subscriptions, such as Netflix, and reports loan balances to the credit bureaus. The MasterCard is issued by Sutton Bank and is exclusively designed to pay for subscriptions. The company is based in Santa Monica and was founded in 2018 by veterans of the financial industry. For more information, visit GrowCredit.com.
Grow Credit premium loan programs loans are made by FDIC member Blue Ridge Bank, NA.